LIFTiD, the company from Shark Tank run by Ken and Allyson Davidov, didn’t get a deal on the show. But their story didn’t stop there. In this blog post, we’ll look at how LIFTiD has moved forward since then, how Shark Tank helped them, and what they’re up to now.
Background Of LIFTiD
LIFTiD is a unique device that uses transcranial direct current stimulation (tDCS) technology. It’s designed to enhance focus, attention, and memory when used for just 20 minutes a day. Ken and Allyson Davidov, the founders of LIFTiD, believed in their product’s potential to revolutionize the way we approach cognitive performance.
LIFTiD Shark Tank Pitch
When Ken and Allyson stepped into the Shark Tank, they were seeking $200,000 for 10% equity in their company. They passionately presented LIFTiD’s features and benefits, hoping to convince the sharks to invest. However, the sharks expressed skepticism about the product’s claims and potential liabilities. In the end, LIFTiD left the tank without a deal.
LIFTiD Shark Tank Update
Despite not securing an investment from the sharks, LIFTiD’s appearance on the show had a significant impact on their business. When their segment aired on November 13, 2020, the company experienced a surge in online traffic. To meet the growing demand, Ken and Allyson quickly opened an additional storefront on Amazon.
Fast forward to recent updates, and LIFTiD is still going strong. The company has managed to achieve impressive revenue figures, despite the initial skepticism from the sharks. By July 2024, LIFTiD had generated a whopping $6 million in revenue and boasted a valuation of $25 million. Some reports even suggest that the company’s net worth could be as high as $35 million.
But LIFTiD’s success isn’t just about the numbers. The device has received glowing reviews from customers who have experienced its benefits firsthand. In 2019, LIFTiD even won the prestigious Gadget Flow Best Product award, further validating its effectiveness and innovation.
Post-Shark Tank Developments
After appearing on Shark Tank Season 12 Episode 5, LIFTiD saw a huge spike in online traffic and sales. Even though the sharks were skeptical about the product’s safety and effectiveness, that didn’t stop curious customers from checking it out.
To keep up with the increased demand, Ken and Allyson opened an Amazon storefront. This smart move allowed them to get LIFTiD in front of even more potential buyers.
The publicity from the show proved invaluable for spreading awareness about LIFTiD. Sometimes that’s all a new product needs to gain traction in the market.
LIFTiD Achievements & Milestones
LIFTiD has quietly been racking up wins since their Shark Tank appearance. In 2019, they received the prestigious Gadget Flow Best Product award.
This recognition from industry experts showed that LIFTiD was more than just a passing fad. It was an innovative device with real potential to help people.
Positive reviews started rolling in from customers who used LIFTiD for just 20 minutes a day. Many reported better focus and mental clarity.
With this kind of organic buzz, LIFTiD was poised for serious growth. And the sales numbers reflect that.
LIFTiD Current Status
As of July 2024, LIFTiD is still going strong. Recent estimates put their annual revenue at an impressive $6 million.
All those sales have increased the company’s valuation to around $25 million. Not too shabby for a business that left the Tank without an investor.
Ken and Allyson’s tenacity and belief in their product have paid off big time. They’re providing a valuable service to their customers and building a profitable business along the way.
It just goes to show, you don’t need a Shark to make a splash. With a great product and determination, you can successfully navigate the waters of entrepreneurship on your own.
Conclusion
LIFTiD’s story shows that hard work and belief in your product can lead to success, even without a deal from Shark Tank. Ken and Allyson Davidov didn’t get an investment, but they kept pushing forward. Their smart decisions, like opening an Amazon store, helped them grow. Today, LIFTiD has strong sales, high customer ratings, and a solid business. Their success proves that you can make it big with determination and a great product, even without the backing of a Shark.